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8 Sep 2014
USD/CHF hovers above 0.93, and may fly higher
FXStreet (Moscow) - USD/CHF opened the day at 0.9310, touched 0.9328 session high in Asia, before retreating to current levels at 0.9315.
Uptrend still intact
Although the recent US labor data disappointed the market, the pair is still trading above 0.93 support confirming the uptrend started in March is still intact. The euro weakness and the ECB dovishness crushed the Swissy, and may be a long-term factor of pressure on the currency. The continued USD strength supported by positive economic data may only exacerbate the move higher with possible target at 0.9339 near term.
What are today’s key USD/CHF levels?
Today's central pivot point can be found at 0.9311 with support below at 0.9286, 0.9258 and 0.9233, with resistance above at 0.9339, 0.9364, and 0.9392. Hourly Moving Averages are largely bullish, with the 200SMA at 0.9203 and the daily 20EMA bullish at 0.9162. Hourly RSI is bullish at 59.
Uptrend still intact
Although the recent US labor data disappointed the market, the pair is still trading above 0.93 support confirming the uptrend started in March is still intact. The euro weakness and the ECB dovishness crushed the Swissy, and may be a long-term factor of pressure on the currency. The continued USD strength supported by positive economic data may only exacerbate the move higher with possible target at 0.9339 near term.
What are today’s key USD/CHF levels?
Today's central pivot point can be found at 0.9311 with support below at 0.9286, 0.9258 and 0.9233, with resistance above at 0.9339, 0.9364, and 0.9392. Hourly Moving Averages are largely bullish, with the 200SMA at 0.9203 and the daily 20EMA bullish at 0.9162. Hourly RSI is bullish at 59.